Interest rates are presently so low that many seniors are unjustifiably being deprived of meaningful interests that can help supplement social security. Seniors count on the blessing of FDIC insurance plus the importance of higher rates of interests accrued from their life-long savings — an advantage that is being taken away from them at a time when they are hoping to survive the onslaught of the downturn in the economy. To add to their misery, there are those in government that are trying to pick on social security in order to compensate for the economic downturn, as if the only means of wriggling out of such a situation is through an avenue, considered to be sacred for retirees in their final years.
Interest rates are ridiculously low at present. What seems more ironical at this time is the fact that, in spite of the improvement in the overall economy,according to the optimistic analyses rendered federally, banks continue to hold back on the long-overdue increase of interest rates on savings in order to continue enjoying the freedom that they seem to exploit to their advantage.
From the standpoint of the observation of seniors in general, the existential problem facing seniors and retirees seem to be meaningless, even by those in government, some of whom appear to lack compassion, while there are those that are eager to accumulate votes, by way of propositions in a number of areas, while ignoring the plight of those that are being deprived of the benefits of saving, on which they rightfully depend.